Phoenix Financial Ltd. Has $6.36 Million Position in Medtronic PLC $MDT

Key Points

• Phoenix Financial Ltd. increased its stake in Medtronic PLC by 37.9% in Q2, owning 71,856 shares worth $6.36 million according to their latest SEC filing.
• Medtronic reported a quarterly revenue of $8.58 billion with a net margin of 13.63%, surpassing analyst estimates and securing an earnings per share (EPS) of $1.26.
• The company declared a quarterly dividend of $0.71 per share, resulting in an annualized yield of 3.0%, with a payout ratio of 78.24%.

Phoenix Financial Ltd. boosted its position in Medtronic PLC (NYSE:MDT - Free Report) by 37.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 71,856 shares of the medical technology company's stock after purchasing an additional 19,767 shares during the period. Phoenix Financial Ltd.'s holdings in Medtronic were worth $6,360,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of MDT. Legacy Advisory Services LLC acquired a new stake in shares of Medtronic in the first quarter valued at about $541,000. GC Wealth Management RIA LLC increased its stake in shares of Medtronic by 20.6% in the second quarter. GC Wealth Management RIA LLC now owns 33,569 shares of the medical technology company's stock valued at $2,926,000 after buying an additional 5,734 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Medtronic by 22.0% in the second quarter. Verdence Capital Advisors LLC now owns 29,396 shares of the medical technology company's stock valued at $2,562,000 after buying an additional 5,296 shares during the period. RNC Capital Management LLC increased its stake in shares of Medtronic by 8.8% in the first quarter. RNC Capital Management LLC now owns 417,021 shares of the medical technology company's stock valued at $37,474,000 after buying an additional 33,729 shares during the period. Finally, Commerce Bank increased its stake in shares of Medtronic by 1.7% in the first quarter. Commerce Bank now owns 145,984 shares of the medical technology company's stock valued at $13,118,000 after buying an additional 2,429 shares during the period. Institutional investors and hedge funds own 82.06% of the company's stock.

Insider Activity at Medtronic

In other Medtronic news, EVP Harry Skip Kiil sold 8,605 shares of the stock in a transaction that occurred on Wednesday, September 3rd. The stock was sold at an average price of $91.58, for a total value of $788,045.90. Following the transaction, the executive vice president owned 35,615 shares in the company, valued at approximately $3,261,621.70. This represents a 19.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William R. Jellison bought 2,500 shares of the company's stock in a transaction dated Monday, August 25th. The stock was bought at an average price of $92.37 per share, for a total transaction of $230,925.00. Following the acquisition, the director directly owned 5,000 shares of the company's stock, valued at approximately $461,850. This represents a 100.00% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.26% of the stock is currently owned by corporate insiders.

Medtronic Stock Up 0.2%

Shares of NYSE:MDT opened at $95.97 on Tuesday. The business's 50 day simple moving average is $94.13 and its two-hundred day simple moving average is $89.08. The firm has a market cap of $123.10 billion, a P/E ratio of 26.44, a PEG ratio of 2.52 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.50 and a current ratio of 2.01. Medtronic PLC has a 52-week low of $79.29 and a 52-week high of $99.37.

Medtronic (NYSE:MDT - Get Free Report) last announced its quarterly earnings results on Tuesday, August 19th. The medical technology company reported $1.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.03. The business had revenue of $8.58 billion for the quarter, compared to analyst estimates of $8.37 billion. Medtronic had a return on equity of 14.61% and a net margin of 13.63%.The company's quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.23 earnings per share. Medtronic has set its FY 2026 guidance at 5.600-5.660 EPS. As a group, research analysts forecast that Medtronic PLC will post 5.46 EPS for the current fiscal year.

Medtronic Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 17th. Shareholders of record on Friday, September 26th were issued a $0.71 dividend. The ex-dividend date was Friday, September 26th. This represents a $2.84 annualized dividend and a yield of 3.0%. Medtronic's dividend payout ratio is presently 78.24%.

Analyst Ratings Changes

MDT has been the subject of several recent research reports. Morgan Stanley reissued an "overweight" rating and issued a $107.00 price target (up previously from $98.00) on shares of Medtronic in a research note on Tuesday, July 15th. Wolfe Research raised Medtronic from an "underperform" rating to a "peer perform" rating in a research note on Monday, June 30th. Truist Financial raised their target price on Medtronic from $96.00 to $103.00 and gave the stock a "hold" rating in a research note on Wednesday, October 15th. Needham & Company LLC reaffirmed a "hold" rating on shares of Medtronic in a research note on Thursday, August 14th. Finally, Daiwa Capital Markets raised their target price on Medtronic from $101.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, September 12th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Medtronic currently has an average rating of "Moderate Buy" and an average price target of $102.82.

About Medtronic

Medtronic plc develops, manufactures, and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients worldwide. Its Cardiovascular Portfolio segment offers implantable cardiac pacemakers, cardioverter defibrillators, and cardiac resynchronization therapy devices; cardiac ablation products; insertable cardiac monitor systems; TYRX products; and remote monitoring and patient-centered software.

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